SEOUL, Dec. 12 (Korea Bizwire) — Science Minister Bae Kyung-hoon said Friday the government will seek to introduce punitive fines on businesses with repeated data breaches amid growing concern over personal information security. Bae made the remark during the Ministry of Science and ICT’s policy briefing to President Lee Jae Myung in the central city [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea will introduce new regulations to curb the rapid spread of artificial intelligence–generated false and exaggerated advertising, including a mandatory labeling system for AI-produced content and punitive damages for malicious misinformation, government officials said Wednesday. The package was approved at a national policy coordination meeting chaired by Prime Minister [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea’s Presidential Committee on the Fourth Industrial Revolution (National AI Strategy Committee) has wrapped up a series of structured deliberation sessions designed to assess how artificial intelligence will reshape professional roles and employment, the committee said Tuesday. The talks, held between late October and early December, brought together practitioners [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea plans to gradually open access to its national integrated bio big data system beginning in the second half of next year, as part of a broader push to accelerate the use of medical and public health data across research and clinical fields, the government said Wednesday. The Ministry [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea will require telecommunications companies to shift fully to standalone 5G networks as a condition for renewing their 3G and LTE spectrum licenses, the government said Wednesday, marking a major policy push to modernize national mobile infrastructure for the artificial intelligence era. The Ministry of Science and ICT said [...]
SEOUL, Dec. 10 (Korea Bizwire) — The industry ministry on Wednesday asked major oil companies to refrain from engaging in drastic price hikes amid recent volatility in global energy prices, officials said. The request was made during a meeting with four major domestic oil refineries, including SK Energy Co. and GS Caltex Corp., and related [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korea’s privacy regulator on Wednesday ordered Coupang Inc. to revise its liability exemption clause for data breaches and simplify its membership cancellation process. The Personal Information Protection Commission (PIPC) issued the instruction after reviewing the company’s terms of service, membership policy and follow-up measures in the wake of [...]
SEOUL, Dec. 10 (Korea Bizwire) — Household borrowing from South Korean banks grew at a slower pace in November as tighter mortgage regulations began to cool the heated property market in the Seoul metropolitan area, according to new data released Wednesday by the Bank of Korea. Outstanding household loans came to 1,175.6 trillion won ($799.6 billion) [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korea unveiled a sweeping industrial strategy Wednesday to defend its lead in advanced memory semiconductors and accelerate development in underperforming segments, as global competition over artificial intelligence (AI) chips intensifies. Industry Minister Kim Jung-kwan said the government will invest 215.9 billion won ($146.8 million) by 2032 in next-generation memory [...]
SEOUL, Dec. 9 (Korea Bizwire) — The presidential office reaffirmed Tuesday that South Korea’s easternmost islets of Dokdo are unequivocally South Korean territory, rejecting Japanese Prime Minister Sanae Takaichi’s renewed claim over the islets in the East Sea. A senior presidential official dismissed Takaichi’s remarks during a parliamentary session earlier in the day, reasserting that [...]